AUTO-DEBIT SETUP

Auto-Debit is a convenient payment method that automates recurring payments for various services such as bills, subscriptions, loans, and insurance premiums. With Auto-Debit, customers authorize service providers to automatically withdraw funds from their bank accounts at regular intervals. This eliminates the hassle of manual payments and helps prevent missed deadlines, ensuring seamless transactions without the need for constant monitoring.

Auto-Debit offers several advantages for both customers and businesses. Firstly, it saves time and effort by eliminating the need for manual payment processing. Customers no longer have to remember payment due dates or visit service provider offices, as payments are deducted automatically. Additionally, Auto-Debit reduces the risk of late payments, which can lead to penalties or service disruptions. For businesses, Auto-Debit streamlines the billing process, improves cash flow management, and enhances customer satisfaction by providing a convenient payment option.

Auto-Debit can be set up using different methods depending on the service provider’s offerings. Two common methods include Electronic National Automated Clearing House (eNACH) and Unified Payments Interface (UPI) Autopay. With eNACH, customers can authorize recurring payments using their debit card or net banking, while UPI Autopay allows mandate approval by entering their UPI ID. Both methods offer secure and efficient ways to automate payments. Customers have the flexibility to cancel mandates or modify payment details as needed, providing greater control over their finances.